Nautilus Solar Energy has closed a $95 million tax equity financing commitment with an affiliate of Credit Suisse. The facility will provide competitive long-term financing for 14 community solar projects across Rhode Island, Maryland, New York, and Minnesota, amounting to approximately 55 megawatts direct current of nameplate capacity. All projects in the portfolio are expected to be placed in service in 2020.
“Nautilus is delighted to have worked with Credit Suisse on this innovative financing. We look forward to growing our business relationship in the future,” said Laura E. Stern, co-CEO of Nautilus. “Such collaboration supports Nautilus’s sustainable growth model and further expansion into existing and emerging community solar markets. Credit Suisse’s flexibility and creativity in structuring this transaction demonstrates its clear leadership in supporting emerging areas of solar financing.”
This transaction is the first community solar portfolio financing for Credit Suisse. Marathon Capital, LLC acted as exclusive financial advisor to Nautilus on the transaction.
— Solar Builder magazine